Deadline for filing BPT Return for 2014 is approaching

Maldives Inland Revenue Authority (MIRA) had urged all individuals doing business in the Maldives and those whose accounting period ended on 31 December 2014 to file their BPT Return and make their final payment by the 30 June deadline.

Individuals will have to file their BPT Return if their total income for the year 2014 reaches Rufiyaa 750,000 or if their taxable profit for 2014 exceeds Rufiyaa 500,000 or if they have submitted the BPT return for 2013 or was liable to do so. However all companies will have to file their BPT Return irrespective of the amount of income or the taxable profit value.

Individuals, partnerships and companies with annual turnover less than Rufiyaa 5 million, need not audit their financial statements. But Parties with annual turnovers exceeding Rufiyaa 5 million needs to audit their financial statements by a MIRA approved auditor.

Those who wish to clarify any information regarding filing their BPT Return can do so through MIRA hotline 1415, or the MIRA support email 1415@mira.gov.mv or by visiting MIRA’s Taxpayer Service Centre.

 

29 Jun 15